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As the limitations of the `charismatic head' theories of leadership in schools have become ever more apparent, there has been a move towards teacher leadership, characterized by a form of collective leadership in which teachers develop expertise by working collaboratively. In this article, the possible benefits of teacher leadership are explored, as well as the possible barriers to and opportunities for making teacher leadership work in practice. It is concluded that teacher leadership could have beneficial effects on school improvement, school and teacher effectiveness and teacher motivation and retention, but that the right conditions need to be in place in order for teacher leadership to flourish. The lack of research on teacher leadership in the UK is noted.